Nigerian Government Introduces Two New Savings Bond Offers with High Interest Rates
The Nigerian government, through the Debt Management Office (DMO), has announced two new savings bond offers aimed at providing safe investment opportunities for the public. The first offer is a two-year bond that offers an annual interest rate of 17.23%, maturing in January 2027. The second offer is a three-year bond with a higher interest rate of 18.23% per year, maturing in January 2028.
According to the DMO’s recent notice, these bonds come with special features, including being tax-free under both company and personal tax laws. This makes them an attractive option for investors looking to maximize their returns without the burden of taxation.
The bonds are also open to large investors such as pension funds and trustees, and each bond is priced at N1,000. Investors are required to purchase a minimum of N5,000 worth of bonds, with a maximum limit of N50,000,000.
These bonds are considered safe investments as they are backed by the Federal Government of Nigeria, which guarantees repayment. The DMO has emphasized that these bonds are a secure way to invest, offering peace of mind for those looking to grow their wealth in a stable and government-backed environment.
Earlier in September 2024, the Debt Management Office had also offered three bonds worth N150 billion, further highlighting the government’s commitment to providing investment opportunities for both small and large investors.
